Wells Fargo upgraded Merck (MRK) to Overweight from Equal Weight with a price target of $125, up from $90. Following recent business development, pipeline progress, and new launches, the firm sees Merck filling the shortfall from Keytruda LOE and growing revenue in the early 2030s. The company is entering a catalyst rich period in the next 12-18 months with readouts across its pipeline, Wells argues.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRK:
- Merck recommends rejection of mini-tender offer from Tutanota at $65 per share
- Merck: FDA approves Keytruda, Keytruda Qlex in combo with Padcev
- Moderna Stock (MRNA) Faces a Cash Crunch Test as Analyst Day Arrives
- Merck reports ‘positive’ results from Phase 3 trial of doravirine/islatravir
- Merck: EC approves subcutaneous administration of Keytruda